NEW YORK—Celebrating its first year of operation last summer, Christie’s LIVE continues to be a great success in the auction world. The online, real-time auction provides customers with an alternative route to bidding on works of art. This unconventional way of buying art over the Internet has proven not only convenient to customers, but also great for business. In the first year alone, sales from 377 online auctions totaled over $25 million. When the program first started in July 2006, only 1.5% of registrants utilized LIVE. One year later, almost 25% of registrants were utilizing the online feature. Comparing House Sales in the past year is evidence of Christie’s LIVE success: Sales in July ’06 and June ’07 jumped from $18,360 to $256,470. The highest winning bid so far for Christie’s LIVE was $408,000.

Christie’s LIVE has proven popular for both new and existing clients. Over half of all online buyers return for future sales and 15% of buyers are brand new to Christie’s. Now, a buyer in Germany can participate in an auction that is being held in New York. Because of the added convenience to international bidders, total attendance at sales has risen steadily since the introduction of Christie’s LIVE in 2006.

Christie’s: christies.com